On the other side, the seller, the bank might fix the issue if you request them to just fix it, and not ask for credit, as if they receive an inspection report showing mold, they have to disclose to all buyers if the property goes back on the market.In the same time, if it's not that much mold and the bank denies your request, you should be able to fix the problem very easily and should not be very costly.Good luck!

They received a certificate of Sale.6) I was advised to by real estate attorneys who told me that if the owner did not want to pay me rent then I should evict her to get some of my money back.To me it sounds like you forced the bank to call the loan do.

Thank you for replying.The quote I received was for an entire year for that dwelling.

She has already shown my building 3 times to prospects and is waiting to receive feedback from one who is very interested.  

@Daniel Clem once you move in you can use Craigslists or even list it with the agent to receive pre-qualified tenants. 

Looking at the IRA publications for these forms I don't believe I need to issue a 1099 because I'm not paying anybody, and I don't need to issue a 1098 because the money I receive comes from an entity.

(I hope to do the same exact thing someday) I am sure the joy you have in doing this will be greater than the person receiving this amazing gift.

I joined a local REIA and I receive a lot of wholesale emails but I haven't found the right deal so far.

The receiver doesn't have to file anything.You get an annual exclusion of $14k per person you gift to.

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